Trying to Put Money to Work
I jumped the gun a little this morning in looking for the selling to pick up. The dip buyers jumped in and nearly had the market back in the green. Breadth is still running negative overall but it is positive on the Nasdaq.
The most worrisome thing about the action is that the momentum names are under pressure. For example, only 13 of the 50 stocks on the Investor's Business Daily list are positive, and my other lists of "hot stocks" are seeing nearly 2 to 1 negative breadth. A bounce in Apple (AAPL) is helping the indices but there is fair amount of weakness, which is a slight change in character....119 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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